Global Electric Rearview Mirror Market Research Report 2024(Status and Outlook)
The global Electric Rearview Mirror market size was valued at US$ 3.24 billion in 2024 and is projected to reach US$ 4.87 billion by 2030, at a CAGR of 7.0% during the forecast period 2024-2030.
The United States Electric Rearview Mirror market size was valued at US$ 723.6 million in 2024 and is projected to reach US$ 1.05 billion by 2030, at a CAGR of 6.4% during the forecast period 2024-2030.
Electric rearview mirrors are automotive mirrors equipped with electronic features such as auto-dimming, heating, power folding, and integrated displays, enhancing visibility, safety, and convenience for drivers.
The global Electric Rearview Mirror market is experiencing strong growth, driven by increasing vehicle electrification, growing emphasis on vehicle safety, and advancements in automotive technology. In 2023, total production reached 78 million units, with Asia-Pacific, North America, and Europe accounting for 85% of global demand. The passenger vehicle segment remains the largest end-user at 75%, followed by commercial vehicles at 20%. Auto-dimming mirrors dominate with a 55% market share due to their enhanced safety features. The market saw a 15% increase in demand for mirrors with integrated cameras in 2023, reflecting the trend towards advanced driver assistance systems (ADAS). Mirrors with built-in displays are growing at 20% annually, driven by the shift towards camera monitor systems in high-end vehicles. The trend towards vehicle electrification led to a 25% rise in adoption of energy-efficient electric mirror systems in 2023. Mirrors with integrated blind spot detection saw an 18% surge in demand, particularly in mid-range and premium vehicles. The market is witnessing increased focus on smart mirror technologies, with a 30% growth in R&D investments for mirrors with AI-powered features such as object recognition and augmented reality displays.
Report Overview
The rearview mirror is helpful for the driver to observe the situation behind and on both sides of the vehicle.
This report provides a deep insight into the global Electric Rearview Mirror market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Electric Rearview Mirror Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Electric Rearview Mirror market in any manner.
Global Electric Rearview Mirror Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Ficosa Internacional
Magna International
Mitsuba
Motherson Sumi Systems
Murakami
Market Segmentation (by Type)
Memory Storage Electric Rearview Mirror
Heatable Electric Rearview Mirror
Foldable Electric Exterior Rearview Mirror
Market Segmentation (by Application)
Passenger Car
Commercial Vehicle
Geographic Segmentation
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Benefits of This Market Research:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Electric Rearview Mirror Market
Overview of the regional outlook of the Electric Rearview Mirror Market:
Key Reasons to Buy this Report:
Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
This enables you to anticipate market changes to remain ahead of your competitors
You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
Includes in-depth analysis of the market from various perspectives through Porter
